Accumulate required amount to buy house of your dreams

Assignment Help Financial Management

Reference no: EM131580935

You plan to buy the house of your dreams in 12 years. You have estimated that the price of the house will be $98,070 at that time. You are able to make equal deposits every month at the end of the month into a savings account at an annual rate of 13.26 percent, compounded monthly. How much money should you place in this savings account every month in order to accumulate the required amount to buy the house of your dreams?

Reference no: EM131580935

Questions Cloud

Functional versus dysfunctional conflict : What characteristics are associated with functional versus dysfunctional conflict? Please explain your answer.

What is the value of the floating-rate bond : What are the remaining payment dates? What is the value of the fixed-rate bond? What is the value of the floating-rate bond?

What is the maximum weekly profit : A plant has been constructed to manufacture a new product. Fixed costs amount to $8000 per week. What is the maximum weekly profit

Discuss the implications of branding in healthcare : Discuss the implications of ‘branding' in healthcare. Does it make a difference, how, and would it drive your decision making?

Accumulate required amount to buy house of your dreams : How much money should you place in this savings account every month in order to accumulate the required amount to buy the house of your dreams?

Required return-how much will you pay for the policy : Assume the required return on this investment is 6.3 percent. How much will you pay for the policy?

Identify at least two of the five informational sources : Identify at least two of the five informational sources that you believe influenced your thoughts and ideas about work and the type of career you might want to

Disease and compile a bulleted list of symptoms : Create a list of providers who treat this disease in your area.

Advantages and disadvantages of arbitration : What are the advantages and disadvantages of arbitration as compared with the status quo of litigation? Are there any other alternatives worth considering?

User Account

All Pages